solarcity-earnings

Tesla Want To Buy SolarCity For $3 Billion

Tesla made an offer to buy SolarCity company for $3 billion. It is good news for SolarCity shareholders and bad news for Tesla. Tesla stocks plummeted when they made the offer. Elon Musk currently owns 23 percent stake in SolarCity and getting full control in SolarCity is expected to help Tesla to expand their business in the home storage industry and Tesla cars. SolarCity recorded $769 million net loss last year, but it does not stop Elon Musk who want to gain control in that company because SolarCity can help Tesla to provide future transportation and renewable energy more affordable and sustainable.

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(via Forbes, AutoBlog)

 

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